8-KOther EventsExhibits & Filings

LINDE PLC 8-K Report, Corporate Update (May 26, 2020)

Filed May 26, 2020For Securities:LIN

Summary

Linde plc (LIN) reported via an 8-K filing on May 25, 2020, that its wholly-owned subsidiary, Linde Finance B.V., successfully issued €750 million of 0.250% Notes due 2027 and €750 million of 0.550% Notes due 2032 on May 19, 2020. The total aggregate principal amount of these new debt issuances is €1.5 billion, raising approximately €1,491.7 million in net proceeds after fees. These proceeds are designated for general corporate purposes. This debt issuance was made under Linde's European debt issuance program, which allows for up to €10 billion in outstanding notes. The Company itself, along with other key subsidiaries Linde GmbH and Praxair, Inc., provided guarantees for these notes, enhancing their creditworthiness. The notes have been admitted to trading on the Luxembourg Stock Exchange. This filing details the terms of the debt, the supporting agreements, and clarifies that the offering was made under Regulation S and is not registered in the U.S.

Key Highlights

  • 1Linde Finance B.V. issued €1.5 billion in aggregate principal amount of new notes: €750 million of 0.250% Notes due 2027 and €750 million of 0.550% Notes due 2032.
  • 2Net proceeds from the offering amounted to approximately €1,491.7 million, to be used for general corporate purposes.
  • 3The debt issuance occurred under Linde's European debt issuance program, with a total authorized amount of €10 billion.
  • 4Linde plc, Linde GmbH, and Praxair, Inc. provided guarantees for the notes, strengthening investor security.
  • 5The notes were admitted to the official list of the Luxembourg Stock Exchange and the Euro MTF market.
  • 6The issuance was conducted under Regulation S, meaning it was not registered with the U.S. Securities and Exchange Commission and was offered outside the United States.

Frequently Asked Questions

The net proceeds from the issuance of the €1.5 billion in notes are intended for general corporate purposes of Linde plc.

Linde plc acts as the primary guarantor for the notes issued by Linde Finance B.V. Additionally, Linde GmbH (Germany) and Praxair, Inc. (Delaware) provided upstream guarantees to Linde plc, further supporting the notes.

The European debt issuance program, established on May 11, 2020, allows for an aggregate principal amount of Notes authorized to be outstanding from time to time of up to €10 billion.

No, the notes were issued pursuant to Regulation S under the U.S. Securities Act of 1933. This means they were not registered with the U.S. Securities and Exchange Commission and were not offered or sold within the United States or to U.S. persons, absent registration or an applicable exemption.